In the marine environment, claims can range from a few thousand to several million (€, $ ,£)
It is therefore very important in view of the sums involved to thoroughly check out the financial reliability of the company, because it will be paying the founds in the event of a claim.
It is also possible that the insurer has its own clauses negotiated directly with the insurance company.
Therefore, within the same insurance company, there are several yacht insurance contracts which may be proposed by marine insurance brokers.
They are paid differently depending on the insurance company, the type of insurance and the business volume generated among the companies.
The broker drafts his offer according to the characteristics of the vessel defined by:
– The brand
– The Market Value
– Its use (private / charter)
– The Flag
– The size
– The areas of navigation
– The history
The modification of one of its vectors modifies risk assessment by the insurer and the insurance company. It is therefore important to compare all types of insurance offered by different brokers and underwriters to optimise the guarantees and premiums.
– Losses and damage
– Engine failure
– Costs of recovery, search at sea, bail-outs, towing and destruction of the wreck
– Legal protection
– Cost of assistance and rescue
– Total / partial theft
– Damage and theft to personal goods and effects
–Loss of charter hire
Special conditions may be added and negotiated according to the company and the insurer
These guarantees can be limited by deductibles which are relatively significant in the marine sector.
They represent the civil liability of the ship and the shipowner in regard to third parties.
Unlike conventional vehicle insurance, it is not compulsory but highly recommended.
They complement the guarantees of the vessel contract, namely:
– Civil liability in the case of practicing water sports
– Civil liability of the shipowner in regard to guests, passengers, the crew or even sub-contractors.
The rates of P&I can be very high depending on the vessel and the areas of navigation. It is therefore essential to understand the use of the vessel in order to determine the right P&I.
We compare and analyse all Yacht Insurance conditions from the best marine underwriters to offer the best contracts that correspond to the specific characteristics of your vessel
Through our network, we have better conditions and rates than a common Marine Insurance Broker whatever the providers
Your personalized study is presented to you in the form of a clear and intuitive table in which rates and guarantees are compared.
By choosing your insurance through us, you not only have the best choice of yacht insurance but also the certainty of getting the advantage each year of the best guarantees and prices
If you are already insured, We deal with termination and adherence to the new chosen contract
We bring you an additional service upstream from the insurers in the event of a claim, responsible or not, to guide you and maximise the amounts your receive
(Tax & P&I up to 500 000 000$ Exluded)
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